Developers buy defunct Great Mall of Las Vegas site

EHB Cos., developers of Tivoli Village and One Queensridge Place, recently bought Triple Five Nevada's defunct 60-acre Great Mall of Las Vegas project site in the northwestern valley for
$6.3 million, or $105,000 per acre, from the bank.

It's the second foreclosed-upon Triple Five property EHB has bought in six months, including a 23.4-acre Boca Park parcel late last year for $11.75 million.

The Great Mall of Las Vegas property is at the northeast corner of Grand Montecito Parkway and Deer Springs Way, adjacent to U.S. Highway 95. EHB bought the nine-parcel site from Oreo Corp., a subsidiary of Cleveland-based KeyBank.

Triple Five shelved plans for an $800 million shopping center complex on the land in early 2009, blaming the recession and reduced demand for the decision, company officials previously said